BTCS (NASDAQ:BTCS) Posts Earnings Results, Misses Expectations By $0.13 EPS

BTCS (NASDAQ:BTCS) announced its quarterly earnings data on Thursday. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.13), Zacks reports. BTCS had a negative return on equity of 72.94% and a net margin of 464.44%.The company had revenue of $4.94 million for the quarter, compared to analysts’ expectations of $3.00 million.

BTCS Stock Performance

Shares of BTCS stock opened at $2.79 on Friday. The company has a market capitalization of $134.06 million, a price-to-earnings ratio of 3.88 and a beta of 1.19. BTCS has a 1-year low of $1.25 and a 1-year high of $8.49. The company has a current ratio of 8.19, a quick ratio of 8.19 and a debt-to-equity ratio of 0.17. The stock’s fifty day simple moving average is $4.29 and its 200-day simple moving average is $3.77.

BTCS Dividend Announcement

The firm also recently declared a dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, September 26th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, September 26th.

Insider Buying and Selling

In other BTCS news, CEO Charles W. Allen sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $4.77, for a total value of $238,500.00. Following the transaction, the chief executive officer owned 4,579,506 shares in the company, valued at approximately $21,844,243.62. This represents a 1.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 42.80% of the company’s stock.

Hedge Funds Weigh In On BTCS

A number of hedge funds have recently modified their holdings of BTCS. Tidal Investments LLC acquired a new stake in BTCS during the second quarter valued at $54,000. Quantbot Technologies LP acquired a new stake in shares of BTCS during the 3rd quarter valued at about $125,000. Geode Capital Management LLC grew its stake in shares of BTCS by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 117,717 shares of the company’s stock valued at $259,000 after buying an additional 3,172 shares in the last quarter. Invesco Ltd. acquired a new position in BTCS in the second quarter worth approximately $293,000. Finally, Vident Advisory LLC acquired a new position in BTCS in the third quarter worth approximately $750,000. 3.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BTCS has been the subject of a number of research reports. Zacks Research raised BTCS from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Weiss Ratings reiterated a “sell (d)” rating on shares of BTCS in a research report on Wednesday, October 8th. Finally, HC Wainwright upped their target price on BTCS from $5.00 to $7.00 and gave the company a “buy” rating in a report on Friday, August 15th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.00.

About BTCS

BTCS Inc operates in blockchain technology sector the United States. Its blockchain-infrastructure secures and operates validator nodes on disruptive blockchain networks, as well as validates transactions for crypto holding delegations on dPoS blockchains. The company offers StakeSeeker, a cryptocurrency dashboard and staking-as-a-service platform that allows crypto asset holders to earn rewards by participating in network consensus mechanisms; and Builder+, a Ethereum block builder offered to maximize validator earnings by utilizing algorithms to construct optimized blocks for on-chain validation.